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Business and Industry

Business and industry in Newton can be traced back to 1893 when Fred L. Maytag and a group of entrepreneurs went into business producing a safer threshing machine feeder. By 1902, the company was the largest feeder manufacturer in the world. In 1905, manufacturing expanded to include automobiles, corn huskers and, eventually, washing machines. At its peak in the mid-1900s, Maytag Corporation employed more 3,500 people locally and more than 29,000 worldwide.

On March 29, 2006, federal regulators approved the sale of Maytag to Whirlpool Corporation. Shortly thereafter, Whirlpool announced the closing of the Maytag Corporate Headquarters, resulting in a complete pullout of a Maytag/Whirlpool presence in Newton.

Since 2008, Newton has attracted 15 new companies to the community. TPI Composites opened a 335,000-square-foot facility to make wind turbines. Trinity Structural Towers opened a renovated portion of the former Maytag manufacturing plant and started making towers for the wind industry. Combined, these and other new to Newton companies, created 1,850 new jobs. In the past 10 years, over 95 million dollars has been invested in urban renewal projects and commercial and industrial development. ’

As a commercial and retail hub for communities throughout east central Iowa, Newton draws on a Skilled Iowa Workforce. This trained workforce owns skills in a wide variety of industries. Newton is also a community serious about economic development. Since 2004, more than $100 million has been invested in urban renewal projects, commercial development and the Iowa Speedway – all of which translate to community growth and vitality. Entrepreneurship has always been a cornerstone of the community. Newton has a long tradition as a home for successful entrepreneurs in manufacturing, advertising specialties, printing, distribution and warehousing.

Local employers are supported by a progressive city government that is responsive to business needs through tax abatement and tax increment financing and revolving loan funds. Available building sites also open potential to further economic development, which is supported by organizations such as Newton Development Corporation, Newton Chamber of Commerce, Newton Main Street and Jasper Community Foundation.

Located in the “crossroads of the Midwest,” Newton is a quality community with a vision and a future. The Newton Development Corporation is here to serve existing businesses, businesses looking for a new home, entrepreneurs and individuals who are eager to join a vibrant city full of opportunities. For additional information about Newton Development Corp., please check out www.newtondevelopmentcorporation.com

As we continue our transformation, we look at our community vision for guidance: Newton aspires to become a center of excellence with world-class education, technology, research and development and an innate culture of entrepreneurship. We seek to embrace and support diverse businesses and create enterprises that will put Newton on the map as a quality community of choice. We strive to create systems that fuel the world with renewable energy. We wish to epitomize the quality of the community-smart, innovative, safe, fun and cool. We aim to be the center for festivals and events that celebrate the arts and culture. Newton will exemplify the positive small-town feel where rewarding opportunities enrich the lives of us all.

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